Loomis Sayles & Co. L P Sells 18,451 Shares of Cadence Bank (NYSE:CADE)

Loomis Sayles & Co. L P cut its holdings in shares of Cadence Bank (NYSE:CADE - Free Report) by 4.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 420,685 shares of the company's stock after selling 18,451 shares during the quarter. Loomis Sayles & Co. L P owned 0.23% of Cadence Bank worth $13,399,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in Cadence Bank by 6.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,825,909 shares of the company's stock worth $277,874,000 after purchasing an additional 593,878 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Cadence Bank by 4.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,242,486 shares of the company's stock valued at $71,423,000 after acquiring an additional 105,231 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Cadence Bank by 1.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,088,804 shares of the company's stock valued at $59,071,000 after acquiring an additional 36,323 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in Cadence Bank by 16.3% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,083,518 shares of the company's stock valued at $66,360,000 after acquiring an additional 291,885 shares during the period. Finally, Segall Bryant & Hamill LLC grew its position in Cadence Bank by 21.7% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,331,112 shares of the company's stock worth $42,396,000 after acquiring an additional 237,748 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Truist Financial boosted their price objective on Cadence Bank from $37.00 to $38.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. DA Davidson upped their price target on shares of Cadence Bank from $36.00 to $40.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Royal Bank of Canada raised their price target on shares of Cadence Bank from $35.00 to $36.00 and gave the stock a "sector perform" rating in a report on Wednesday, October 23rd. Barclays upped their price objective on shares of Cadence Bank from $35.00 to $37.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 23rd. Finally, Morgan Stanley raised Cadence Bank from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $36.00 to $39.00 in a research note on Monday, September 30th. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $35.29.

Cadence Bank Stock Performance

Shares of CADE stock opened at $38.63 on Wednesday. The company's fifty day moving average price is $33.99 and its 200-day moving average price is $31.26. The stock has a market cap of $7.04 billion, a PE ratio of 11.10 and a beta of 0.95. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.04. Cadence Bank has a 12 month low of $24.15 and a 12 month high of $40.20.

Cadence Bank (NYSE:CADE - Get Free Report) last posted its quarterly earnings data on Monday, October 21st. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.64 by $0.09. Cadence Bank had a net margin of 25.99% and a return on equity of 8.95%. The business had revenue of $447.36 million for the quarter, compared to analyst estimates of $450.97 million. During the same quarter in the previous year, the firm posted $0.56 earnings per share. Cadence Bank's quarterly revenue was up 11.0% on a year-over-year basis. On average, equities analysts expect that Cadence Bank will post 2.71 EPS for the current fiscal year.

Cadence Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend is Friday, December 13th. Cadence Bank's dividend payout ratio (DPR) is presently 28.74%.

Cadence Bank Company Profile

Cadence Bank provides commercial banking and financial services. Its products and services include consumer banking, consumer loans, mortgages, home equity lines and loans, credit cards, commercial and business banking, treasury management, specialized and asset-based lending, commercial real estate, equipment financing, and correspondent banking services.